Buying a house is a monumental time in a person’s life. However, before you begin the home hunting process, there are essential steps you must take first. The experienced agents at EXIT Realty Black Hills in Rapid City, SD, share what to do when buying a house.
Sell or Buy a House With These Steps
1. Get Pre-Approved for a Mortgage
Before you hunt for a home, seek pre-approval from a mortgage lender. You will need to provide the potential lender with information about your income, investments, and credit history. They will then provide the amount they can lend you, which will help you narrow down the options to the price range you can afford.
2. Save for a Down Payment
Aim to have a payment of at least 20% to put down on a home. This will establish that you are a serious buyer. It also helps you qualify for a loan with a reasonable interest rate and lower monthly payments. A down payment will also help you pay for additional costs, such as a home inspection or repairs.
3. Find the Right Real Estate Agent
A real estate agent plays an important role in the home buying process. They handle everything from browsing listings to negotiations and paperwork. They also have invaluable knowledge of the local market and neighborhood. Since they will be your guide through the entire transaction, find someone you are comfortable with.
Whether you’re selling or buying a house, you should have the basic knowledge before beginning the process. EXIT Realty Black Hills, the premier real estate agency in Rapid City, SD, offers their expertise and industry-leading service to help home buyers and sellers through every aspect of the process. If you have questions on where to start, contact them at (605) 716-3948 to schedule an appointment. Visit their website for more information about their services or to browse their listings.